WorksheetsUnit 3 Vocab Quiz #2
Total questions: 31
Worksheet time: 31mins
What does ATM stand for?
Automated Teller Machine
Automatic Transaction Machine
Automated Transfer Machine
Automatic Teller Mechanism
What is a PIN used for?
To access your bank account
To earn interest
To overdraft your account
To increase your credit limit
What is an overdraft?
A bonus from the bank
Spending more than you have in your account
A type of savings account
A fee for using an ATM
Which type of account is used for everyday expenses?
Savings Account
Checking Account
Investment Account
Prepaid Card
What is a prepaid card?
A card linked to your savings account
A card you load money onto and use like cash
A card that earns interest
A card that automatically deducts money from your checking account
Why is it important to keep your PIN secure?
To prevent unauthorized access to your account
To earn more interest
To avoid overdraft fees
To increase your credit score
How can a checkbook transaction register help you?
It automatically deposits money
It helps track spending and balance
It increases your interest rate
It prevents overdraft fees
Compare a savings account to a checking account.
Savings accounts offer higher interest, checking accounts offer easier access
Checking accounts offer higher interest, savings accounts offer easier access
Both offer the same interest and access
Neither offers interest or easy access
Why might someone use a prepaid card instead of a credit card?
To avoid interest charges and debt
To earn rewards points
To build credit history
To receive cash back
What is a checkbook transaction register used for?
To record all transactions in your checking account
To automatically pay bills
To earn interest on your balance
To increase your credit limit
What is a check?
A tool to track your spending
A written order to pay someone from your bank account
A type of savings account
A card that earns rewards
What is an annual fee?
A fee for using an ATM
A yearly charge for having a credit card
A fee for overdrafting your account
A fee for using a prepaid card
What is cashback?
Money you get back when you use your credit card
A fee for using an ATM
Interest earned on a savings account
A bonus for opening a new account
What are rewards in the context of credit cards?
Points or miles earned for using your credit card
A fee for using a credit card
Interest charged on your balance
A penalty for late payments
What is the Annual Percentage Rate (APR)?
The yearly cost of borrowing money on a credit card
The interest rate on a savings account
The fee for using an ATM
The cashback percentage on purchases
What is a credit card?
A card that stores your savings
A card that is used for writing checks
A card that only allows cash withdrawals
A card that lets you borrow money to make purchases
What is a credit limit?
The minimum amount you must pay each month
The fee charged for late payments
The maximum amount of money you can borrow on your credit card
The amount of cashback you can earn
What is an ATM?
A type of credit card with rewards
A fee charged for overdrafts
A machine that lets you withdraw money from your bank account
A tool to record transactions
What is a PIN?
A fee charged for using an ATM
A reward program for credit card users
A secret code used to access your bank account
A type of credit card
What is an overdraft?
When you spend more money than you have in your checking account
A fee for using your credit card
A reward for using your debit card
A type of savings account
Which of the following is typically a feature of a savings account but not a checking account?
Ability to withdraw money from an ATM
FDIC insured up to $250,000
Your money earns interest
Ease of making payments using a debit card
Antonio does not like carrying cash or writing checks, but he wants to have access to his money in his account for daily use. What service that fits his preferences can a bank offer him?
saving account
Credit Card
Debit Card
Deposit Box
Which of the following best describes a check register?
A place to record all transactions and should always show your current and correct balance
A document to sign when you receive cash
The amount of money actually deposited
The amount before "less cash received"
Account where money is kept for you to spend
Deposit
Withdrawal
Checking account
Account where you save money for the future
Checking account
Savings Account
Deposit
To take money OUT of your bank account
Withdrawal
Deposit
Bank
Account
You have $253.55 in your checking account.
You deposit $44.34.
Do you have enough money for a $300 video game system purchase?
(you CAN use a calculator)
True
False
You have $219.78 in your checking account.
You withdraw $60.
You want to make a purchase for $80 for clothes. Do you have enough money?
(you CAN use a calculator)
True
False
You have $195.80 in your checking account.
You have $312.50 in your savings account.
You have $20 cash.
How much money do you have total?
You earn $35 from pet sitting. You want to put it in your bank account.
That is called...
deposit
withdrawal
debit card
PIN
Sophia needs to use her card to buy groceries. Which type of card requires a Personal Identification Number (PIN) to authorize many purchases?
Credit
Debit
Both
